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Q5efererfeiasgtotffiuni°Nbaofj:Ndkie `© W`®.` in q5EFERErfeiasgtotffiUni°nBaofJ:ndkie `© w`®.` in -..-. ` ^"©atctthELlhif teQ*HB ASsnT REcovER¥ BRANCH NO. 816 , Oppanakara Street, Coimbatore-641001 , Tamilnadu REF:ARE/15 SN/74/2020-2] 20-02-2021 By Regd Post & Courier To: 1.1. IVI/s Beetle Elxl)orts Guarantors: NO 17 2ND CROSS SRP NAGAR BHARATHI PARK SAIBABA COLONY (I) Mr V Balasubramanian COIMBATORE cOIMBAroRE TAMIL No 17, SRP Nagar,11 Cross, BhaTathi Park, NADuffll011 Sai Baba Colony, Coimbatore-6410 I 1 Email :[email protected] (2) Mrs J Shwetha No 17, SRP Nagar,11 Cross, Bharathi Park, SaiBaba Colony, Coimbatore-641011 (3) Mrs V Muthu]akshmi No 78, KPN Colony, First Street, Tirupur-641601 Dear Sirmuang Sub: Notice of 15 davs for sale of immovable secured assets ilnder Rule 8 of the Securitv Interest /Enforcement` Rules. 2002. 1. Union Bank of India , Coimbatore -Asset Recovery Branch ,No. 816, Oppanakara Street , Ccoimbatore -641001, the secured creditor, caused a demand notice dated 17.03.2016 under Section 13(2) of the Securitisation and Reconstniction ofFinancial Assets and Enforcement of Security Interest Act 2002, calling upon you to pay the dues within the time stipulated therein. Since you failed to comply with the said notice within the period stipulated, the Authorised Officer, has taken possession of the immovable secured assets under Section 13(4) of the Act readwith Rule 8 of Security Interest @nforcemeut) Rules, 2002. Possession notice dated 2l-09-2020issued by the Authorised Officer, as per appendix IV to the Security Interest q|i.forcement)) Rules, `2002 was delivered to you and the same was also affixed to the properties mortgaged with the Secured Creditor, apart from publication of the same in newspapers. Please note that you were informed about your right to redeem the property within the time available under Section 13(8) of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, which you have failed to honour. 2. As you have failed to clear the dues of the secured creditor, the immovable secured assets that have been taken possession by the Authorised officer, will be sold by holding public E- auction on 18.03.2021 -between 1.00 p.in to 5.00 p.in by inviting Bids from the public throughonlineonwww.mstcecommerce.com 3. You are also requested to ensure participation by parties interested in buying the immovable secured assets in the sale as proposed above. 4. A copy of the terms of sale is enclosed for your reference. Please note that the Auction will be conducted through E-Auction mode on the date and time mentioned in the enclosed terms of sale. Place: Coimbatore Date : 20-02-2021 Encl: Terms of sale TERMS AND CONDITIONS OF SALE OF IMMOVABLE SECURED ASSETS: I. Name and address of the Borrower and Guarantor 1. M/s Beetle Exhorts Guarantors: NO 17 2ND CROSS SRP NAGAR BHARATHI PARK SAIBABA COLONY (1) Mr V Balasubramanian, cOIMBAiioRE cOIMBAroRE TAMIL No 17, SRP Nagar,11 Cross, Bharathi Park, \ NADudil011 Sai Baba Colony, Coimbatore-641011 (2) Mrs J Shwetha, No I 7, SRP Nagar, 11 Cross, Bharathi Park, i Sai Baba Colony, Cc)imbatore-641011 (3) Mrs V MuthuLakshmi , No 78, KPN Colony, First Street, Tirupur- 641601 2. Name and address of the Secured Union Bank of India Creditor : ASSET RECOVERY BRANCH Nol. 816 , Oppanakara Street , Coimbatore-641001 3. Description of immovable secured assets to be sold:Allthatpartandparcelof3370.00Sq.Ft.or7.73 Cents of Land with Building thereon at S.F. No.18/1 Part,19/1,18/1, D No. 49, Site No. 28, Ward No. 5, Venkatasamy Gounder Layout, , Kavundampalayam Village, Vadavalli SRO, Coimbatore Corporation, Coimbatore in the name of Mr. V. Balasubramanian. Boundaries of the nroDertv.- North: 25 ' 0 ' wide EasLwest Layout Road, South: Subbaiya Gounder Property, Hast: Site No.27, West: Site No.29 4. The details of encumbrances, if any As on date, there are 2 encumbrances present for the known to the Secured Creditor property. il. As per letter no TRC No: 8,g & 1o/NCR-2/2o16-17ITRO-I/CBE dated on io®8-2oi7 from Office of the Tax Recovery officer, lrlcome Tax Department, there is an Income Tax Attachment for Rs.147.54 lakhs on this property. A Writ petition has been filed before Hon'ble High Court of Madras to lift the attachmem. 2. Also as per communication received on 2o-11-2ol8 from Emp[oyee's State Insurance Corporation (ESIC), the borrower M/s Beetle Exports is a defaulter of Rs. 1,26,574/- plus further interest and damages. 5. Last date for submission ofEMD On or before the commencement of eAuction. 6. Date & Time of auction 18.03.2021 -between 1.00 p..in to 5.00 p.in (with 10 min unlimited autc) extensions) E- auction website - www.mstcecommerce.com 7. The secured debt for the recovery of Rs.20,40,92,379.60 Qlupees twenty which the immovable secured asset is to crores forty ]akhs ninety two thousand be sold: - three hundred seventy nine paise 60 only) as on 31.08.2020 (with further interest, cost & expenses) 8.1 Reserve price for the properties Rs.125 lakhs (One Crore Twenty FIVE below which the immovable property Iakhs ) may not be sold: 8.2 Ehfl} of the Property Rs 12,50,000.00( RupeesTwelve lakhs Fifty Thousand Only) 9. 1. Registration The Online E-Auction will be held through web portal/website WwW.mstcecommerce.Com on the time and time mentioned above with unlimited extension of 10 minutes. The intending bidders / purchasers required to register through `hrwwr.mstcecommerce.C0rn auctionhome index. by using their mobile number and valid email-id. They are further required to upload KYC documents and Bank Details. 9. 2. KYC Verirication On completion of registration, the intending bidders / purchasers are required to upload KYC documents and Bank Details. KYC documents shall be verified by e-auction service provider which may take 2 to 3 working days. Hence the registration and uploading fomalities are to be completed well in advance. 9. 3. EMD Payment On completion of KYC verification, the intending bidders / purchasers are required to pay EMD through NEFT/RTGS/ NEFT/NET BANKING/UPI by generating a Challan through this website in his/their Global EMD Wallet. Payment should be made within 3 days after generating the Challan for NEFT / RTGS otherwise the Challan shall become invalid. The payment shall .be ensured well in advance before the stipulated time. If the required EMD amount is not held in their Global Wallet, they will not be allowed to participate. Payment of EMD in any other mode will not be accepted. The Earnest Money Deposit shall not bear any interest and in case of unsuccessful bid, the same will be returned to the unsuccessful bidder by the service provider without interest. 9.4 Bidding The bidder has to select the property for which offer is submitted from the listmentionedintheabovewebsiteand/orbiddercandirectlyenterProperty ID (as mentioned in https://ibapi.in). The property win be visible in I,ive Auctions'onwww.mstcecommerce.comonedaypriortothedateofauction. 9. 5. Help Desk > For Registrations related queries e-mail to ibapjQpenstg3gQnuere© > ibepififl-.For EMD payment/refund related queries e-mail to > For Registration and Login and Bidding Rules visit Hms:±!u!i!±£±steg9Qpim£[gg£Q!±±4ng±Qp±Qp]¢i±api±iede tend Click aBtryer Ctwrde for Login a,nd Registra.fion" > Intending bidders may download free of cost, copies of sale notice, TermsandConditionsofe.auctionHelpManualonoperationalpartof e-auctionfrome-Bkray-IBAPIportal(https://www.ibapi.in) For auction related queries e-mail to sifesieniQdeapkefipdiapp± or contact Union Bank of India, Asset Recovery Branch, NO 816,Oppanakata street,Coimbatore-641001 9.6 Steps Involved > Register on"e-auction portal www.mstcecommerce.com. using mob,ilo number and emall ID. > Upload requisite KYC Documents. > Generate challan and transfer EMD amount to bidder's global EMD • Wallet. > Submission of bid shall be,through Online mode on the auction date and time. >IncaseofsuccessfulBrd,thebalancebrdamounttobepaidasperthe terms as mentioned hereunder.>IncaseofunsuccessfulBid,request for refund to be made in the MSTCwebsiteandrefundwillbemadedirectlybytheMSTC.Biddersareadvisedtogothroughthewebsitehtts.~.ibaiin,andwww.unionbankofindia.co.intendersfordetailedtermsandconditionsofAuctionSalebeforesubmittingtheirbidsandtakingpalfintheE-Auction sale proceedings. Successfulbidderwillbeintimatedthroughe-malaftertheclosingofthee-Biddingprocess.ointment 10.Theintendmgbiddersmay,iftheychoose,aftertakingpriorappfromtheAuthorisedOfficer,inspecttheimmovable/movablesecuredassets to be sold before the date of E-Auction.Itshaubetheresponsibilityofthebidders to inspect and satisfy thelnselvesabouttheassetsandspecificationbeforesubmittingthebid.Onparticipationbyanypersonorcorporateitshallbedeernedthatthebiddershavefully•fidthemselvesastothepropertyundersaleinallrespects.o_. 11.IncaseofbiddingthesameshallnotbelessthanRs.100000.0msatlsleexcessofhighestbidamountortheilnmediateprecedingbid,asthecaseb.thmultipleincrementvalueofRs.100000.00 12. The sale will be confirmed in favour of the highest bidder and themayew1confimationofsaleshallbesubjecttotheconfirmationbytheSecuredCreditor.Incase6fsinglebidreceived,thesolebiddershaubedeclaredafulbidder. the success13.Bidsonce made shall not be cancelled or withdraun The failure on parofbiddertocomplywithanyofthetermsandconditionsofe-auction•dhereinwillresultinforfeitureoftheanountpaidbythebidder. 14.ThesuccessfulbiddersodeclaredbytheAuthorisedOfficershalldeposmentione25%oftheSalePrice(inclusiveOfEMD)inCash/DD/RTGS/NEFT/1ntemtransfer/Chequesubjecttorealisation,immediatelyonthesaledayornlaterthannextworkingdaywiththeAuthonsedOfficerintheaccbearingNumberA/c.No:548601020050005:ACName:EAUCTI0NSARF,.S!
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